EUR/USD - Failed to End The Day Above 1.0900 Critical Level - 03/28/2017 (GMT)

The euro traded higher versus the greenback and drove the pair above the 1.0900 significant psychological level. The EUR/USD pair printed a new four-month high at 1.0906 and penetrated the descending trend line. However, the price failed to end the day above the diagonal line and slipped lower, below the 1.0870 key level.

Additionally, the common currency pair soared more than 2.6% in March and if there is a successful break above the rising line, we may see an aggressive run to the upside until the 1.0950 – 1.1000 resistance zone which is near with the 50 and 100 SMAs on the daily timeframe. The technical structure remains bullish as it completed four positive weeks in a row and the technical indicators are moving higher. The RSI oscillator continues to follow an upward path while the MACD is moving above its trigger line, increasing the probabilities for further advance. In the case of a downward move beneath the 1.0830 barrier the price will slip until 1.0720.